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How to declare past trades in cryptocurrency to ATO since 2017?

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Hi,
I am very confusing right now, and I need help.
I have invested to cryptocurrency since middle of 2017, and I got so much lost, so I cashed out some of my position and did declare to ATO in June 2017.
Then, I invested again from August 2017 to now, many times.
Since then, I have only exchanged these cryptocurrencies to others and haven't cash out any money from crypto because I always got loss if i exchange to cash. (Exclude sometimes I deposited money over my head and took out small ammount to cover.)
And I didn't know that I have to declare all transactions every year. Cause overall, my total money at any time was a loss, end up becomes only 1/5 of my first investment.
Today, I got the letter from ATO telling me that I have to fix my EOFY 2019 crypto tax mistakes in 28 days, or I can get penalty.
How can I fix this thing in 28 days with thousands transactions from many accounts ? My tax accountant said that it takes much time to calculate whole my transactions.
If I can't have enough time to fix this, can I declare on next year, or how much do I get penalty?
Kind regards.

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Most helpful response

Former Community Support

Replies 0

Hi @KD13,

 

We would need to take a look at your account and the correspondence you received from us to be able to give you advice, so you may want to give us a call on the Individuals line on our contact us page. 

 

In terms of the calculations, this is something you would need to have your tax agent do if you are not able to. 

 

If you need more time to sort everything out, please speak to our Debt and Lodgment line on the same contact page to see what they can do in terms of extensions and deferrals. 

 

Let me know if you have any other questions. 

 

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @KD13,

 

We would need to take a look at your account and the correspondence you received from us to be able to give you advice, so you may want to give us a call on the Individuals line on our contact us page. 

 

In terms of the calculations, this is something you would need to have your tax agent do if you are not able to. 

 

If you need more time to sort everything out, please speak to our Debt and Lodgment line on the same contact page to see what they can do in terms of extensions and deferrals. 

 

Let me know if you have any other questions.